There is so much LOL in this great article about what is happening with Philadelphia Media Network right now. It’s mostly tragic, and lots of good reporters are about to lose their jobs. This quote is especially rich and almost inspired me to start a blog about all the fucked up stuff these papers have done over the years. (Also lots of good; Barlett and Steele should go in the reporting hall of fame.)
But the buried lede on all of this drama is this: why the hell do all these smart, already rich and powerful people want to buy a business that is obviously going to lose money and fail?
Every rich powerful group of people that tried to buy a newspaper over the past 10 years thought they could do it better, and make more money in the process. And so far, I think, everyone has failed.
